before you become a victim. >> identity theft was a huge, huge problem for me and it's gone away because of lifelk. >> announcer: while no one can stop all identity theft, if criminals do steal your information, lifelock will help fix it, with our $1 million service guarantee. don't wait until you become the next victim. you have so much to protect and nothing to lose when you call lifelock now to get two full months of identity theft protection risk free. that's right, 60 days risk-free. use promo code: gethelp. if you're not completely satisfied, notify lifelock and you won't pay a cent. order now and also get this shredder to keep your documents out of the wrong hands-- a $29 dollar value, free. get protected now. call the number on your screen or go to lifelock.com to try lifelock protection risk free for a full 60 days. use promo code: gethelp. plus get this document shredder free-- but only if you act right now. call the number on your screen now!

stuart: here it is. the monday morning highlight reel. roll it, please. the hype over the new galaxy. it is over a new feature. scroll over new pages just using your eyes. >> now all of a sudden it will be able to read my eyes? there has to be something negative about that. stuart: they have replaced apple. apple used to have the buzz. go for samsung. charles: you will get eye strain stuart: maybe connell can explain, perhaps. it is yours. connell: thank you very much for

that. the four-year anniversary of the bull market. we'll show you today what may keep those old running for the rest of the year. how do you work? more and more people using public transportation. this may be a welcome development for many people, more employers are offering a naptime for their workers. dagen: hi there. when in doubt, holler. connell: we have some breaking news coming in. dagen: blake gasparino joining us now with the story on the phone. charlie: i wish i could be with

you to do this. this guy is a very prominent guy. morgan stanley is in advanced talks to make the senior members of the executive teams. morgan stanley has the largest brokerage on wall street. a key thing for the strategy is to promote that brokerage department. make it a bigger preference out morgan stanley. he will be the guy that coordinates the effort between the various departments inside. that is pretty important. morgan stanley brokers deal with a lot of high individual people.

they send those deals to other firms. they keep profits internally and boost that share price. this is not a commlete done deal. they have been in negotiations for the last six weeks. the guy who heads the wealth management department is likely to offer this, officially, later on today and he would be named sometime tomorrow morning unless, of course, they speed everything up because of our reporting which is a possibility. that is where we are right now. a fascinating story. connell: was an incident, i guess, where he had spoken out against warren buffett. he called him a hypocrite, or

whatever. charlie: i do not think you leave a place and go to a big waste. this is a pretty amazing job. gary would not comment on this thing. morgan stanley would not comment. i have sources inside the firm. i bet my pinky that this will happen. we will know a little bit more later today. full disclosure, i used to work there. i don't think they handled at the right way. he left because of a job. he worked there for many years. he left right before -- it was a

member of lehman brothers. he really saw the collapse coming up way early. he fielded a lot of jobs. i think that you know, one of the reasons he is going to morgan stanley is because he likes morgan and he likes plumbing. he used to be one of the best investment planners. i believe he was newberger's investment banker. i think no one leaves a good job just because you are not at your boss for some reason, you go to another job. a lot of people will be talking about why dairy is leaving.

connell: all right. i am sure you will have more on it. charlie: we have a big story running on fox business.com. connell: great stuff, as always. dagen: the first trading day since saturday. connell: we have that brown with us today. it is always good to have him on. good to see you. dagen: do not let connell scare you. [ laughter ] >> thank you for inviting me. connell: everyone has the most basic question, hey, now what? >> there has been a lot of momentum. to a large extent, i think there is a lot of euphoria out there. if you look at small and mid

type stocks, the s&p 500 as a proxy for the market as a whole, closing at 1551 on friday. i think the s&p estimates are roughly at $111. that is where they were out last year. the fourth quarter, earnings were down. i am more realistic. i think earnings will be 103-104. historical norms, that is one multiple note cheaper it is not a raving by. dagen: what takes the wind out of this? >> i do not think we will see higher interest rates. i think bernanke and the fed are committed to keeping the petal to the metal, as they say. we are supposed to get down to 6.5% unemployment. with the sequestration, we will

lose another 700,000 jobs this year. dagen: do not worry at all? >> i know the ten years back over 2%. that does not bother me, 2% is not real competition. what concerns me is a little bit of gambling fever when you look on shows like yours and company comes in light. if they do better than expected, it has a 40 market and goes up. that is not investing, that is casino reality. speak that you are not blaming us for this, are you? >> not at all.

connell: if the fed were to say and interest rates were to start going up, without necessarily be the end of the world for the stock market? >> i do not think so, but i think you have to be selective. you have to stay with fundamentals. i and a deep value person. there are good valuation where you can find good stocks. that is what i would stick with. companies with good balance sheets. do not reach for the moon. connell: that is good advice. good to have you here in new york. let them you want even more. dagen: i had some things i wanted to ask you and we ran out

of time. connell: thank you. dagen: house republicans who released -- paul ryan previewing the budget on fox news monday. >> they have us on a path towards a debt crisis that hurts everybody, that brings us to a recession, that gives us a european type of experience. we will higher wages, more jobs, a growing economy. we get that by balancing the budget. dagen: joining us is now editorial page editor at the washington examiner. this budget that paul ryan will propose, david, it includes repealing obamacare. that will not happen, will it? >> it is not likely while obama is president because he would have to sign it, of course. they will not actually repeal

obamacare. that does not mean it cannot be repealed with certain provisions in it. there are lots of things like the medical device taxes and other changes that could make it less expensive. in the end, what ryan is looking at and talking about here is some way of avoiding the real pain later of true austerity. dagen: what would mean true austerity, though, and explained the difference between, if you will call minor cuts that we have experienced with the so cluster and what true austerity would mean for the country. >> we need a valid approach. austerity and europe has taken a very balanced approach. we will massively raise people's taxes and we will cut their benefits dramatically. it is on a much larger scale than with anything we have seen.

any of the minor attempts to cut spend here. even entitlement reforms that will take affect years out. those are very minor compared to what you would end up with. this is what ryan message has kind of been. austerity is not about scaling back benefits for people who were tired several years from now. austerity is when you tell current recipients of social security we are cutting your checks in half and we are raising everyone's taxes by 30%. that is what they are doing in these european countries. before you said, yes, though. it is roughly 12 years, i think, where medicare will not be able

to pay full dollar for dollar benefits. will we wait for that day and then congress has to take some dramatic action? >> that is exactly the question. those are the terms, either we can deal with this now or we can wait until we are forced to implement austerity at some point. that will mean scaling back medical benefits for senior citizens or dramatic tax hikes again. or it will mean something like sacrificing other budget priorities so we continue to have this sustain the unsustainable. we will shut down white house tours that lay off firefighters a policeman across the country, we will stop educating children, cancel programs that fund these things. that is how we will end up paying for medicare. something has to give. it is better to give now when you can still get away with it.

you can still make the cuts must and sustainable. dagen: let's hope people are listening. david, thank you. be well. thank you for being here. connell: off to a good start on markets now. two big to fail. thanks getting set to face a second round now. dagen: naptime is not just for four -year-olds. more employers are setting up nap rooms and office. i hope we have good video for this. you'll have to to wait and see. take a look at how oil is trading today. record-breaking run for the blue-chip oil. ♪ friday night, buddy.

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connell: as a comeback on markets now, did you know you cavuto is coming on this hour? dagen: you don't say. connell: going to the gulf petallides and talking about zynga. connell: we have been waiting for this. 109.99. presales begin on march 12. it is here. it will be available.

dagen: the s&p and new record highs this week. connell: sandra smith joining us now. sandra: when we were talking about the director, everyone was talking about the s&p still being so far away. 1565.15 on and intraday basis. 1576.09. these are the new numbers to be watching for. we are just about 15-point shiite of the all-time closing high closing at about 1551 as we speak. the sa 500 so far up 9%. so far this year the dow is up

10%. we may also hit a record high in the broader stock market. it will be all about momentum. a lot of analysts are coming out and identified the fact that some of the etf's that track the s&p 500 are a considerable amount of inflows. money is coming back. $1.84 billion has flowed into the s&p etf on the one on the top there so far in march. there have only been six trading days in march. this momentum from the retail investor or you could say the average investor, it will push it to an all-time high. keep that in mind. there is $125 billion in assets under management in just that

one s&p 500 etf. back to you. dagen: you know what is bigger, gld. i think that i will triple check that. i am almost 100% sure. japan commemorating the two-year anniversary of that earthquake and tsunami. then the nuclear disaster. killing nearly 19,000 people. connell: as you do with the time lost as we sprung ahead this weekend, it was more painful than i thought it would be, more empires offering naptime to their employees. first, a look at how world currencies are faring against the dollar today. we will be right back. ♪ ♪

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>> 24 minutes past the hour this is your fox news minute. former detroit mayor convicted today on federal racketeering

and other charges. they're accusing him, his father and a city contractor of many things. two u.s. troops and three afghan policeman dead following an insider attack. an afghan police officer opened fire on the troops at a police headquarters sparking a shootout that left the attacker also dead. it was two years ago today that japan was devastated by an earthquake, and a tsunami and then and nuclear disaster. virtually no rebuilding has been done. the area around the power plant remains abandoned. that is your fox news minute. back to dagen and connell. dagen: thanks so much. connell: too big to fail is back in the spotlight. thank goodness.

dagen: peter barnes is in washington, d.c. with more. peter: big banks will be under the microscope all week. the senate committee holds a hearing friday on jpmorgan chase this six billion-dollar london whale being lost. to fisher and other critics, too big to fail would mean government banks would still get bailouts if they got into trouble and that implied government backing means they can chase profits to riskier times and advantages. they want congress to break up the big bang which are pushing back. >> it will produce more

competition, i think, for the consumer. it will produce more benefits and competition for the real economy companies that use these services. peter: a handful of lawmakers are proposing legislation to put more limit on big banks. it faces an uphill fight. connell: if all of your eggs are -- many institutions do all they have are mortgages failed with the mortgage crisis hit. a bank that is diversified is more likely and able to sustain shocks to the system, regardless where they came from. peter: glad we got that soundbite in. [ laughter ] dagen: thank you, peter.

connell: though both have been running wall street as we have been telling you. the white house continues to blame the republicans for hurting the economy. with that, neil cavuto is just ahead. dagen: any reason to run a bold video. if you are going to run it, show some people getting her. here are some winners today on the s&p. ♪ ♪ [ f female announcer ] from more efficient payments. ♪ to more efficient pick-ups.

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if criminals do steal your information, lifelock will help fix it, with our $1 million service guarantee. don't wait until you become the next victim. you have so much to protect and nothing to lose when you call lifelock now to get two full months of identity theft protection risk free. that's right, 60 days risk-free. use promo code: gethelp. if you're not completely satisfied, notify lifelock and you won't pay a cent. order now and also get this shredder to keep your documents out of the wrong hands-- a $29 dollar value, free. get protected now. call the number on your scre or go to lifelock.com to try lifelock protection risk free for a full 60 days. use promo code: gethelp. plus get this document shredder free-- but only if you act right now. call the number on your screen now! connell: all right.

just ahead of neil cavuto, we had back to nicole petallides. we are talking about ge. nicole: general electric a big conglomerate. it is down 1% today. mary schapiro will be joining general electrics board. the former security and exchange commission. her experience obviously overseeing the markets and understanding corporate governance and regulations will be beneficial to the general electric. today you see the stock is down about 1%. it is up about 24% over the last year. that is one that we will continue to watch. she will stand for election on april 24.

dagen: the white house remains silent on the dow hitting an all-time high last week. jay carney saying i do not comment on the markets. if you months ago he did saying the stock market was proof that republicans were hurting the economy. the united states was downgraded and the dow fell another 10% or 1100 points after the s&p downgraded the united states. connell: neil cavuto is here with us in studio. neil: it is my 10,000 hit with you guys. [ laughter ] connell: man lets go of usa.

neil: that was the box it would in. remember the week before we were going to hell in a handbasket. it hits records normally you naturally take a bow. it was in the middle of what was supposed to be armageddon. it was just bad timing. dagen: at the white house need to think that to happen based on the predictions. neil: saying it will be doom and gloom and then it does not materialize. the markets will turn on you when you least expect it. for the administration to be in this sort of conundrum where you cannot boast as it otherwise would about a record-setting dow, to do so now would fly into

the face of this given that sequestration would be horrific. maybe the president proved the lunacy of that by kidding about sequestration and his dinner remarks this weekend. connell: i saw a couple of those. the markets, in general, is kind of interesting. neil: it could be 10,001. [ laughter ] connell: always making sure that wasn't the breaking news that we had at the bottom of the screen. the ups and downs. dagen: i told him to do that. neil: exactly. this young guy says, remember

that, grandpa? connell: i was in sixth grade. neil: really? connell: something like that. neil: you have made your point. connell: there is no dow 14,000 hats or anything. usually, in the past, you have these financial media types who have gotten more worked up about it. neil: we are really back to the future. back to where we were in 2007. it is nice, but you are kind of back to where you were. we also know with archetypes that they tend to be sort of a teaser to not so great events.

earlier in the, we had new highs. we know what happened in october of that year. the same thing in 1929. no, i was not there to print that one. the thing about market records is they normally bring something that down the road. you take what you can get. i think that the administration is in this spot about bragging about something that could be short-lived. more to the point, writing about something is coming to the face of sequestration cuts. connell: you can catch neil cavuto today and every day at 4:00 p.m. on the fox news channel. neil: on my 10,000 hit you are patronizing me. dagen: you look better younger than him.

neil: the two of you look like a wedding cake. like a romp filled cake, but a wedding cake, nonetheless. dagen: i made it. connell: put in staff is in cardiac arrest. connell: it isn't cavuto and his old show at 8:00 o'clock. dagen: napping at work. more and more employers are allowing this. setting up nap rooms where workers can sign up for 20 minutes of shut eye before turning to work. this seems to be paying off.

connell: you don't want staff to do that? neil: no. we are here to work. eating is one thing. connell: it is good to see you, neil. dagen: i like you a lot more. connell: he needs to make a habit of joining us. the run on the market, will it continue? anthony chan from chase. dagen: for all you worried about what the federal reserve will and won't do, charles payne has a history lesson.

♪

>> i have your fox business brief. a high-profile money manager potentially making vice president of the brokerage department. increasing coordination between progress and investment bankers at the firm.

that is according to charlie gary no. they are expected to be officially offered the job later today. gasparino said the deal has not been finalized, but they could make the announcement tomorrow morning. denny's is dropping its expansion plans in southern china. the company plans to develop this the franchise restaurants over the next 50 years. that is the latest from the fox business network giving you the power to prosper. ♪ friday night, buddy.

you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take iworldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. connell: rolling right along here on markets now. that was a lot of fun with neil cavuto. let's get serious. our next guest says the careful in terms of how you enter.

we have the chief economist from chase private client. >> believe it or not, the economy is improving. that is one of the things that makes me optimistic. even that consumer spending will be weak in the first half, it will accelerate. expenditures will continue to be robust and i also think the housing market recovery is well underway and continue throughout the year. these backdrops are certainly positive for the u.s. economy. connell: your commentary has been cautious in that area. that is why i wanted to have you described the economy first. we have seen really good run in stocks. we may take these games that we have seen so far this year for a full year. here we are starting off the

month of march. >> you look at the s&p 500 and it is up almost 8% on a year to date basis. keep in mind, we are all looking for something like that to happen next year also. you want to be careful not to be out of the market entirely. you want to look for some pullbacks to make adjustments upward. for a lot of people, the big problem is not whether they are too much in the markets, but they are out of the markets. connell: charles payne is coming in here to talk about this. from an economic point of view, what is your time for the federal reserves so-called exit strategy? >> believe it or not, the party will not end for a long time. the music may be coming down in that party. of course, that music is signified by quantitative

easing. sometime at the end of this year perhaps next year, we will see a leveling off. $85 billion of purchases every single month. it is something that will not continue indefinitely. in terms of interest rates, we do not think short-term interest rates will go up anytime soon. when bernanke was asked what think you will see 6% unemployment, he said 2016. connell: anthony, always great to see you. they are coming on today. >> my pleasure. dagen: stocks now with nicole petallides. the vix hitting and all your high today. connell: that is right. the lowest level since april of 2007. there it is right now down four-point present. it is the fear index. it really is a barometer to what

investors are expecting over the next 30 days on the s&p 500. an indicator of what we are expected to see. sometime it can work as a contrarian indicator. no question that people think the equity markets are overbought. back to you. dagen: apologies for saying the wrong thing, nicole. thank you to you for being so gracious and correcting me in a great way. connell: thank you. we will see you at the top of the or. we are going to move on to tivo. it lets users access applications and other devices and other groups. it costs a 599 monthly

subscription fee. the stock is up by five cents. dagen: here is the reason to watch a fox business exclusive coming up in the next hour. the cooking -- did you know he once worked as a clerk at the american stock exchange? i did not know that. cheryl coming up with that next. i cannot wait for that. it is exciting. he was born and bred in new york city. connell: leading to charles payne, the concerns about bernanke and company taking the wind out of the sales. charles will use history to ward off the bears today. stay tuned for that. dagen: some winners today on the nasdaq. ♪ it's monday.

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♪ dagen: let's make some money with charles payne. he is back this up to deliver what he promised he would bring on friday. charles: there is so much fear lingering out there. we're going to go straight to 6000. a lot of people don't like the idea of the market even looking good because it may look the president look good. i took the last two rallies. i looked at a whole lot of things about the relationship to the rallies and the federal reserve. you have the rally from 1990-

2000 then to 2007. the gains from that big rally, the one that we all love, almost 400%. connell: this is after interest rates started to go off. >> the initial reaction, during the bull market that the dow went down 6000. the last rally, it went down 7%. raising rates 17 times. they raised rates ten times. after that first rate hike, the rally resume for another 71 months. in the last rate, it resumed another two.

dagen: at this time is different because of the additional stimulus that the fed has been putting into the market and the bond buying that is going on still today. maybe looking back, recent history isn't the best way to look at it. charles: anything can happen. people say it as if this has happened. we always know when the fed takes away the punch bowl, the market plunges. during the great depression, there were 13 bear markets. of course, they were a lot larger. it does not go collapse overnight. anyone who read that article and was afraid, they miss an 11% move. i am just afraid of people not investing and missing the big one. connell: if the fed misses the

party -- charles: won it that means our alchemy was doing better. that the fundamental underpinnings are better? dagen: maybe not. inflation starts picking up. connell: you are thinking rates will start to go up because the economy is improving. charles: it gets to a point where the market is overvalued. you had a guest on earlier. none of these have been a 16p ratio. right now, there will be a point, i think, the fed money will prop our economy. who is buying all of these bonds from the treasuries? the federal reserve. dagen: bernanke's free pass for gc. thank you, charles.

connell: okay. dagen: thank you for all that work. the president now moving ahead with his charm with republican. connell: one of television's most recognizable chefs. dagen: i was watching him last night. connell: cheryl will talk with him next. keep it here. the local important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. somef the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers.

♪ dennis: i'm dennis knearl. cheryl: i'm cheryl, and coming up, stocks on the fen, dow is up 16 points, and many bet this is the week for the s&p setting a new high. a bull says it's not if if s&p makes history, but one. dennis: president obama has a charm offensive after republican paul ryan releases a blue print to repeal obamacare and cut

spending. we have one that the president will sell him out. cheryl: a fox business exclusive. did you know bobby flay used to be a clerk at the american stock excang in one on one with bobby and about the business of being bobby flay. dennis: nicole is on the floor of the new york stock exchange. we are turning green. >> we are. amazing; right? moving to the highs of the day. the vix to the downside, market upside, and dow up 18 points, testing highs hit last week, moving close to the levels here, up three weeks in a row, boeing is the best performer leading the way. one of the names hitting a multiyear high, boeing, united technology, and disney are hitting annual highs. important company is dell.

watching it so closely on, obviously, buyout offers and the like, and, today, carl io cahn said they are in an confidential agreement with dell to look at the information confidentially, and working on that. we knew that was going to be able to shop around, and they are doing so. back to you. cheryl: thank you very much. see you in 14 minutes from now. dow higher by 17 points. bulls are back, a recent momentum in stocks that comets long temple. hefty wealth partners joining me now, eric, the senses say that stocks have that natural pullback, the great highs last weekings but there's going to a correction if you will. what do you say? >> well, we definitely think that's a potential for short term volatility, maybe a pullback, cheryl, but, ultimately, we think several things happen to keep the markets moving forward

throughout the rest of the year. when we look at -- chel -- cheryl: go ahead. >> the zero interest rate policy that we had, remember what a certificate of deposit was, people don't think about them because interest rates are so bad, stocks are still cheap on a pe ratio basis. we're 20% less than we were at the 2007 highs, about 40% less than 2000 highs, and we think that's giving us enough to propel us forward. cheryl: bears say it's fed fueled, and the minute of the correction, if you will, they step buying securities and that's when the party will be over. do you think that some of this is, indeed, caused by the fed and that we've got to actually get more realistic about stock rice prices? >> cheryl, i think the fed played a very, very large part where we are at tea today and

going forward, and look at this saying the worst case scenario played out is over. the fed has essentially said they said investing into the market place and continue to pump cash into the economy. as long as that happens, we think that is given us fun dation -- foundation where we are out and upward momentum can continue. if the fed changes the stance, you have to reassess where you are at, ensure there's a appropriate portfolio to capture the up and downside, but people look at the inside of it, how do we continue this going up and ensure we participate. >> participating, but there's a point to the clients that really, these new highs by the dow don't mean anything. it is the s&p, and, frankly, the s&p is a better barometer of the overall market against the dow, only 30 stocks. look at the ibm section of the dough dow, anne there's a rally. if overall, the s&p, do we hit the new history making high this

week in the s&p, and does that give you the signal, hey, this market is real? >> well, we definitely think that there is a couple pieces of information here this week. if that comes in, we think we could hit a new s&p high as of friday. the thing to keep in mind is, on the dow, there's a lot of press about the highs, these are not inflation adjusted, norpt of 15700 before we can say, hey, we're back to where we were,ing including inflation and everything else moving forward. the s&p is under valued 15% compared to inflation adjusted or not. in terms of nominal numbers, it could happen this week. cheryl: the gold play and trade doesn't make sense now. what do you mean? >> well, we think that it could make sense. one of the things that's constant the past several years is federal assets on federal balance sheet increase, the price of gold increases with it. there's 5 gap between the two numbers thinking that means there could be buying opportunities in a way that kind

of leverage out of the areas of the market so we don't -- we think that the gold rush is definitely over, but it's one we want to keep hands into just to instruct her we get yield and return on the portfolio when we can. cheryl: you like the industrial sectors, but do they, do you think, make sense for the viewers for the entire year or are they interesting in the short term? >> as long as the federal government continues to do what it's doing in the economy. i think they realize there's no dragging waiting around the corner to bite the head off. there's comfortability and confidence returning to the marketplace. when that happens, that's where the spending starts to increase. we think automobiles have bottomed out a little bit. we think housing bottomed out, getting back to the piece, the two areas of the market we are excited. cheryl: eric, thank you very much. >> thanks, cheryl. cheryl: despite president

obama's recent efforts to reach out to republicans, he's clearly in for a battle over their budget proposal. joining us now with more, rich? >> good afternoon, cheryl, it is budget week in congress. house budget committee chairman paul ryan releases the 10-year spending plan tomorrow and consider the opening offer for republicans in the budget fights with democrats. ryan repealed the law to be a premium support or voucher system. for those younger than 55, and age say the budget contains no increases and allows for tax reform claiming the plan ensures the federal government spends as much money as it takes in in the next temperature years. ryan says these cuts will lead to growth. >> we think we owe the american people a balanced budget. we want to respect hard working taxpayers, and we think there's a responsible plan to balance the budget. the reason we do is not to make the numbers add up.

it leads to a healthy growing economy that creates jobs. >> democrats who called ryan's budget dangerous saying it features deep cuts for the poor and elderly while protecting the wealthy. for the first time in four years, senate democrats and budget committee chairman patty murray will release a budget later this week. the president's budget is not expected until earlier next month. dennis, back to you. dennis: thank you, rich edson. rep paul ryan releasing the latest proposal as you saw there just as president obama intensifies his new charm offensive. the president meets with senate democrats tomorrow and house republicans wednesday. joining us now, greg of patomic research group. you know, we teased the idea you think some democrats are beginning to fear that president obama is going to somehow betray them, sell them out, please, explain. >> well, he did in the summer of 20 # 11, dennis putting on the able all sorts of stuff the house was not aware of like

raising the eligibility ages on medicare and social security. look, he for sure is going to do something on the social security color, and there's a lot of democrats in the house who don't even like that. they worry he could do even more. dennis: huh, gee, i call that leadership. coming up with tough proposals and good ideas when you have to crunch. what's the fear that will happen? what will obama do to undercut his own party? >> oh, again, cave on entitlements, and you can see a real backlash there. we had a wonderful dinner. i think, i agree, it's leadership. he had a great dinner two or three nights ago in dc. he has not gone out with many democrats, and i think an awful lot of them need some tlc when they meet with the president later in the week. dennis: rep ryan released a budget, but it's predicated in part on repealing obama care. he has no chance of getting that done. in denial the republicans lost the presidential election? >> yeah, minor detail, huh? he says, oh, we're going to

repeal obamacare. it's not going to happen. look, all the budgets are political doesn'ts. patty murray's budget calling for tax hikes, political document. paul ryan's political document, the news here, though, is that both sides are getting a little closer on entitlements, a very big deal. don: -- dennis: the democrats fear they are sold out on entitlement cuts, but obama has a rare chance as nixon a conservative could open relations with china, obama as a democrat liberal could propose cuts and not get pillared by the opposition. suspect this a rare opportunity? shouldn't president obama sell out the democrats in that case? >> well, i've been told that within the white house, he's said to people that part of the legacy is that he was the president who put entitlements on a sounder footing. this is the chance.

they are on the table now. they have a rare opportunity. dennis: his budget is coming up. do you expect to see restraints proposed in the democratic budget coming up, the first one in quite a few years? >> i think that's a political document also. don't forget, dennis, the reason the howlings -- house and senate have a budget pass is if they don't, they are not paid. the senate passes one because they want their paychecks. dennis: nothing like negative incentive. thank you for reading the tea leaves. >> you bet. cheryl: well, good news for the economy, but not traders. gas prices lower. live at the cme with the details. dennis: shark, not the business variety, but the fish type, sharks spring break tourism threatened in florida, beaches closed, thousands of sharks too close. better video coming up, and i'm headed down there next week. cheryl: bobby flay expanding the

restaurant empire again. he's getting into the burger wars, but we're not talking mcdonald's people, it's bobby flay. we'll talk exclusively with him in the show. dennis: watch out, shake shack. cheryl: exactly. dennis: before we go to break, let's look at what we do every time at this time. let's look at oil. i'm a conservative investor. but that doesn't mean i don't want to make money. i love making money. i try to be smart with my investments. i also try to keep my costs down. what's your plan? ishares. low cost and tax efficient. find out why nine out of tenls choose ishares for their etfs.

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to the finest comforts above. we're not simply saluting history... we're making it. cheryl: coming up on 15 past the hour, stocks every 15 minutes, team coverage at fox business today. dennis: phil flynn in the trading pits of the cme as gas prices are lower. sandra watching the s&p, and charles payne is making money on e-businesses, annie -- and nicole on the floor of the new york stock exchain. >> we were at 14426, and now we here at this level, each tick i

watch the dow jones industrials because each tick is higher highs, new all time record, interday highs for the dow jones industrials. obviously, the bulls out there and the people at 401(k)s and iras are excited about the action to the upside, better than 6500 at the crisis lowss same token, a sense of caught here on the floor of the new york stock exchange. no one's shorting the market, but at the same time, they, obviously, agree the market is somewhat overbought. names on the dow hitting molt year or annual highses boeing the best, hitting a high, 3mj, disney, and united technologies are the other names on the dow jones industrials with the highs. that's the latest, phil, what's going on in chicago. >> i'll tell you we're saying it's about time, for the first time this year, retail gasoline prices fell, fell 5.5 sixes a gallon according to the lundberg

survey, and she's predicting another drop of 5-10 cents. i agree, but this morning was scary. the futures were soaring. it started on friday on words of a lot of concerns about refineries across the country, wholesalers buy first, ask questions later. the big issue with the future is that it's a threat is a shortage of renewable fuel credits. that's right. record highs of renewable fuel credits causes potential shortages of gasoline. exporters who don't have the credit may not export to the united states, causing a tight market, especially on the east coast. now, let's go to the touch with sandra smith. >> all right, phil. i'll take it from there. i know what you and the other traders in chicago watch is the s&p 500, and let me remind everybody as this rally continues on this monday morning, that the s&p 500 all-time closing high is 1565,

and that was in october 2007. flip the chart, guys, i want to show you the interday high. 1576 for the s&p. keep that in mind as i flash out of this and into an interday chart of the s&p 500 hitting the highs of the session at 1553, now just 12 points shy of the making the record high. seemed unattainable earlier this year, and now it looks like it could be in play. as we continue to watch that, guys, i want to remind everybody on a year to date basis the s&p is still under performing the dow, up 9% this year while the dow is up 10% so far this year, so there is an argument that the s&p has catching up to do. that said, guys, i want to jump into the s&p 500etfs because this is where we see a lot more investor attention coming from the retail mom and pop investors. the s&p, spy, the biggest of them out there, it's been obviously tracking the s&p well. it fell 1.8 billion in in flows

in march. if you're charles payne, you say, oh, that's not that much money. $1.8 billion in inflows is better than out flows, only six days that's happened in the month of march. keep that in mind. you can take it from there. cheryl: time to make money with charles payne. broad vision, i have a couple questions about that. anything about sandra smith? >> maybe broad vision invests from the investor money sandra's talking about. those who miss the rally come in and swing for the fences not buying ibm, but i missed four years worth of rally. this is a high risk idea, okay, there's no doubt about it. it's interesting. one i use -- i like a company fundamentally, and then i let the volume tell me when to pull the trigger. i'm not 100% sold on the fundamentals of this, but the volume, guys, is absolutely mind

boggling. from a trading point of view, a close above 11 is a nice break out. it used to be a $48 stock. they this success, not financially, but with the product. they introduced a new product, an enterprise social networking thing. san san down 77% over the year. is that why you like it? >> i love the way it acts, looking for a trade, trying to swing for a double or home run, $10 the stop loss, and you might get a quick score. small's going on. i can tell you right now, and by the way, most news in the market is telegraphed 90% at a time, maybe more. cheryl: follow-upping on that one. >> i know you will. cheryl: going to watch it. dennis: still, too big to fail? peter barnes on why many in washington want to give big banks a haircut. cheryl: tv chef bobby flay expanding the burger empire.

we'll talk about him ahead and why he's getting into a competitive field. dennis: first here's how the world's currencies fare against the u.s. dollar. ♪ e knows you like no one else.

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>> i'm jamie colby with your fox news minute. former detroit mayor convicted on federal racketeers and other charges. they accusedded him, his father, a city contractor, of widespread corruption, extorting bribes from those who wanted city contracts. a project to bring natural gas from iran despite objections of americans. iranian president ahmadinejad said the u.s. has no right to block the protocol, and there was a ceremony near the pakistan border marking the beginning of construction. italian judges ordered that the former prime minister's health condition be verified unable to attend the trial on charges of paying for sex with a minor. he's been in a hospital since friday with an eye problem

forcing him to cancel a number of other appointments to. that's your fox news minute, back to you, dennis. dennis: thank you very much. remember the big bank melt dop, too big to fail taking center stage again with stress tests. last week, eric of s&p capital, told cheryl some banks still are too big. >> these banks are likely too big to fail, and i know it's like a dirty phrase out there. i mean, certainly citigroup or morgan gets into trouble. it's like the government would step into to do something. dennis: government upset, and peter barnes joins us from washington, d.c. with more. peter? >> big banks in the spotlight all week on too big to fail. you got the community bankers opening their annual convention today in las las vegas wants congress to clamp down on bigger rivals, and they'll announce for

18th largest bank, and the house committee holds a hearing, and a senate committee holds a hearing friday on jmmorgan chase's london trading loss. too big to fail, as we heard from the s&p guy, that big banks would get government bailouts if they get into trouble. that gives them competitive advantages, critics say. dodd-frank financial reform was supposed to eliminate all of this, but critics say it did not go far enough. they want congress to break up the big banks which are pushing back. >> it helps economic growth generally and more broadly because if you get banks helping on serving the real economy rather than using this implicit subsidy to play speculative games on wall street, i think that helps the overall economy. >> we believe dodd-frank ended the debate on too big to fail or reduced arguments that too big to fail exists for a number of

reasons. first of all, banks are stronger with more capital, less liquidity, less leverage, there's elimination of the riskier practices. dennis: a handful of lawmakers propose legislation to put limits on the big bank or break them up, but this legislation faces an uphill face in congress in the face of intense bank opposition. dennis? dennis: thank you very much, peter barnes. cheryl: well, the dow up for the last three weeks and today, and so is now the time to think about getting into bonds. somebody said the bond market is dead, but bill o'donald, head of the treasuries security to find out if now is the time. don't miss that interview at 1 p.m. eastern time here on fox business. getting into bonds, not stocks. i don't know. the bond market's been beat up. dennis: i just have nothing to add on bonds. i know nothing about them.

amazon and apple wants you to be able to sell e-books. get reaction of a ceo of a small book company ahead. cheryl: taxed to death. can you believe two western states want people to pay a fee to ride bicycles? details coming up in the west coast minute. it's not these two gentlemennings but, you know. dennis: cheryl goes one on one with bobby flay who thinks he has the recipe for better burger shops. cheryl cheer before we break, take a look at today's winners and losers on the s&p. we'll be right back. ♪ dad, i'd put that down.

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dennis: bottom of the hour, and we have nicole with news on blackberry. >> that's right. take a look at at interday chart because we are, once again, hitting all time interday highs on the dow jones industrials. 14428. i have to check it because it's a new high. i wanted to bring you also to check out blackberry with news jumping. you can see it now up 10%. the ten, finally, now you can buy this thing tomorrow. there's a order it, and you can go into the stores to buy it march 22. blackberry, the long awaited launch, finally, after a year and a half, they had the new blackberry ten, and everybody's3 been waiting for it, retailing for $199.99 available beginning

tomorrow with a presale. back to you. cheryl: nicole, thank you so much, see you in 14 minutes from now. amazon under fire for the plan to expand on the interpret's addressing scheme. they want to nap top level domain names like dot-book and dot-read, and that's met with fierce opposition. joining me is ceo clint greenleaf. what do you think of this? trying to get everything here on the internet. >> right. amazon's done a great job for the publishing industry, helping us out in a lot of ways, but they are now becoming a power to take over too much for us. we've seen them take over the used book market, the physical book market, and now, on top of this, publishing, and the internet. cheryl: i mean, they're amazon, and there's the used book market, kindle, e-reading in general, changed how we behave with books. what happens to the used store

down the street in my neighborhood? will they go out of business because you can't sell digital files bought off of amazon, any book you buy. what happens there? >> right. it's multifaceted. amazon is the big player here, but you have the publishers, and if a publisher is told a used book was sold, but that's okay, you know, we're not going to pay you for it because somebody else sold it back to us. it returns industry, and publishers feel they were taken advantage of, sold books that they didn't get their cut on it it's going to get complicated. cheryl: google, microsoft are going after the top tier, vary -- very attractive dot-apps, and they say this provides a unique and dedicated platform for amazon protecting the integrity of its brand and reputation. i guess a dot-app, i mean, really? is this the argument that's going to fly in >> it doesn't fly.

i appreciate free markets, but at a certain point, monopolies are dangerous. in cbs owns dot-tv. they don't allow the other channels to get that, and it forces the smaller players down. 3,000 books a day released in the market, and all the people want a dot-book account. cheryl: amazon and a lot of the other companies go after the international names as well, but if you think about it, look, retailers want to do the same thing. i want to have shopping.boy or shirts.buy. is it capitaaism or anticompetitive? that means the justice department gets involved. >> right. as much as we want them too; rights? this is where they can step up and do what they are supposed to do. it's not time to own that kind of domain name. cheryl: there's been such a sift

with barnes & noble in particular, one of the many that objects to am san os move to own dot-book, the death mill for barnes & noble, but at the same time, you know, some say barnes & noble is already deadment what do you say? >> we love it. we sell a lot -- cheryl: i know, i know, i get it. >> barnes & noble and self-defined plan shrinks back the stores so we see them pulling back a bit. we see e-sales going up, and any time there's growth of someone like mazon at the expense of any physical bookstore is dangerous for the entire industry. cheryl: wonder how long books will be around in ten years. thank you very much. >> good to sew you. cheryl: good seeing you. dennis: breaking news. charlie last hour reported morgan stanley is in advanced talks with former money manager gary kemenski saying they want to put him in a ski role designed to increase coordination between brokers and

investment bankers at the firms. that's what regulars wanted to separate. here's more what charlie reported last our. >> what sources tell the fox business network is that morgan stanley is in advanced park to make kemenski the senior members of the executive team. he's going to be leaving cnbc, become the vice chairman of the brock raj apartment. morgan stanley has the largest brokerage department on wall street, 18,000 brokers. it's a key thing for ceo james goman's strategy to promote that broker's department, make it a bigger presence at morgan stanley, and that's where he comes in. he's the guy that is going to coordinate the efforts between the various departments inside morgan stanley, create synergy. dennis: saying the deal is not finalized, but they could announce it tomorrow morning. charlie has more on the story next hour with myless is a and

lori. follow the yellow brick road, way about the greenback road? "oz" makes an impact this weekend. how big? we'll tell you. cheryl: and he is here. business heating up for bobby flay. he joins me next for an exclusive interview where to expand the restaurant empire. good to see you, bobby. dennis: first, let's take a look at ten year treasury. ♪ ♪ [ male announcer ] this is karen and jeremiah. ey don't know it yet, but they're gonna fall in love, get married, have a couple ofids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like eacother,

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>> i'm tracy burns with the fox business brief. will the outlook in industrialized economies improve? the united states and japan lead the way according to the organization of economic cooperation and development. last monthly leading indicator, and now the oecd says recession hit eurozone shows signs of improvement. march madness starts next week promising big money for the ncaa. a study by contar media find the tournament generated $6 billion in advertising revenue in ten years. the european union bans the sale of new cosmetic products containing ingredients tested on animals, effective immediately. it was decided five years ago, but left loopholes following

resistance from cosmetic companies. that's the latest from the fox business network giving you the power to prosper. ♪

cheryl: bobby flay at the top of the cooking game. what more could the former american stock exchange clerk want to do. why restaurants? why now? joining me for an exclusive interview. good to see you. >> you too. cheryl: american stock exchange, lessons learned, but you open up the burger restaurants, but you're going after more of that middle, you know, tiered consumer. that's a switch for you. more americana. >> because i've been on food network for so many years, about 17 years now, so there's a lot of people who know i'm a chef that know the food that i cook, but not everybody can get to the restaurants and not everybody can afford to go to the high end restaurants i open, like in new

york, las vegas, or atlantic city. the idea was to branch out and let everybody get a taste of what we do. that's why i opened bobby's burger palace. they say, you're a high end chef, why open a burger place? i've always been a burger guy. that's my go-to. cheese burger is the go-to thing i thought it would be follow-up, and bobby burger place born. cheryl: kid at heart, and you just opened one up in cincinnati. not in the city, and i'm curious if you're thinking manhattan is not the place to do something like this? >> well, you know, i have high end restaurants here, and i -- i'm innative new yorker. i grew up in man hatter, here my whole life, and what it comes down to is it's real fate and expensive to build a restaurant here, so much so that the $10 check average at bobby burger pat las, takes a lot to pay the rent here. that's not to say we wouldn't do it because at some point i'm

going to have to make my wife happy because she says to me, why, every time i want a burger, do i have to go to paramus. happy to go there, but at some point, we'll open here fer sure. cheryl: your wife is a beautiful actress, but i don't see her eating burgers. i'll take your word for it. we're a business network, following commodity cost, and what we see with the chains, whether it's casual or chipolte, it hurts the bottom line. do you feel that effect? >> with all the restaurants, you know, the high enand mid range. well, i mean, prices go up. we can't just take those high costs and give it back to the customer and expect them to pay for it every time, you know, meat goes up. we have to take it on the chin. it's part of being, you know, part of customer curtesy in a way, but, ultimately, it's going to -- it's going to affect

everybody. as prices rise, menu prices will rise at some point. we won't be able to hold on to it forever, and the consumer that will have to eat it. cheryl: one of the things that the restaurant chains and just the ma and pa restaurants have been doing, in particular with obamacare and health care law changing is they are trying to keep the restaurants with under 50 employees or reducing hours because of the costs. is that something you you've had to look at or address or not yet? >> well, we certainly look at it. of course, we're reading the, you know, reading the new tax issues, of course, but we have to do what's right for the customer and what's right for us, and then if we have to pay higher taxes, we have to pay higher taxes. we live in america. costs money to be here, and we have to pay our share. that's the way it goes. we're not taking anything away from the product in terms of customer service or quality, you know, in order not to pay more taxes just the way it is. cheryl: all right. i have to tell you, buy the food network at this point. i see you on that channel all the time. great to see you again. you were on fox business last

summer. had a great time. >> absolutely. cheryl: great to have you on the show again. bobby flay, bobby's burger palace. stocks every 15 minutes, nicole on the floor of the new york stock exchange, what do you have? >> first focus on dick's sporting goods, the stock is under significant pressure, down nearly 10% today. they came out with profits that missedded the analyst's estimate, and they said they misjudged shopping basically, miss judging the cold weather demand and we had mild weather, and they didn't see the shoppers coming in to buy the cold weather gear. in the meantime, you can see the stock's down over $5 at 45.57. a tough day for dick's sporting goods. continue to watch urban outfitters, today, after the bell, 4 p.m. hour, bringing it to you conges we get it, but they are up three quarters of 1%. they'll report their quarterly numbers, and that'll be one to watch going into the closing bell. back to you.

dennis: thank you, nicole. today's media minute. the wizard is back, baby. disney's $3 murks gamble on a prequel to the wizard of oz raked in 150 million worldwide and 80 million in the u.s.. that's opening this yearment vindication, exactly one year ago, disney premiered the megaflop, john carter, losing $200 million. and print megs are dead? long live prints. "wall street journal" saturday had a surprise inside. a new magazine. wsj money with stories on mark cuban, clean tech ripoff, and the rich in singapore where a nightclub receivers a $26,000 cocktail. it's part of the publishing company that our parent is spinning off. there's talk it may want to bulk up on pulp and buy the l.a. times. lastly, a new study from carnegie melon says legal sales

of videos popped up 10% after the shut down last year of megaupload opened by kim.com, the hut of pirate websites. users started paying and others trimmed sales after megaupload was busted, cheryl? cheryl: all right. new concerns over apple and other companies stashing cash overseas to drive down the tax bills. the bottom line coming up. dennis: if i had shares, i want them to lower the tax bill, and taxing you to pedal? why two states want a license fee on bicycles. that's ahead in the west coast minute. cheryl: oh, boy. look at the winners on the nasdaq. names you know. just talked about blackberry with nicole, sears, facebook, seagate, and dell. ♪ friday night, buddy.

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cheryl: time for west coast minute. delta airlines is making a big investment in lax. the airline is adding 17 new flights from the city of angels to eight new cities. delta also agreed to team up with airport officials it invest $160 million in upgrades in its own terminals. shares of delta, higher by two crepts hitting multiyear highs. if you were disappointed in last year's election result, try living in nevada. it's the only state with a

section on the ballot where you choose, quote, none of the above, but the g.o.p. is not happy about it and is challenging the none choice saying it unfairly influences races if the races are too close to call. a u.s. appeals court hearing arguments on this one today. just when you thought lawmakers were done coming up with new ways to get americans to pay more, well, washington state and oregon added a $25 sales fee on bicycles that cost $500 or more. lawmakers proposing this one, bicyclists use the road too so they should pay to keep the roads in good shape. yeah, makes tons of sense. dennis: i thought bicycles were better than cars? okay. a new troaferls over corporations stashing cash overseas driving down the tax bills. here with more is elizabeth mcdonald's bottom line. >> "wall street journal" has the latest analysis, 60 companies stash more profits overseas, up

15% to 1.3 trillion, as their effective rate goes down, down to 14%. essentially seeing other analysis, 2 trillion overseas as washington, d.c. is moving to possibly tax those profits more. the president out last week says he wants to end tax breaks that let companies offshore profits, and apple is a big player in this game. ge is leading the way, 108 billion in profits stashed overseas. the companies are saying, listen, we need the money overseas to create jobs, you know, basically here at home, and it supports our plans overseas, and, essentially, if we bring it home, we get taxed twicement now the debate is the companies are offshoring the patents and their copyrights, keeping the value of those things overseas to avoid taxation here. i'll tell you, it's a big fight gedding ahead of steam in washington, d.c., and the president said he wants to end those tax breaks. whether or not he can do it

remains to be seen. honeywell says 54% of the revenues come from overseas. dennis: that's where the money's made. >> yeah, it's a big deal. we're going to see more of the tax breaks taken from companies. dennis: keep in mind, this is after they pay taxes on it, and we're the only major economy that when they bring it home, we want to tax it again. that's why it's left there. it's there for the shareholders. >> saying the rates, too, overseas, are lower. dennis: because we have the highest taxes in the world. thank you, liz. cheryl: appreciate it. all right. look at this. the waters off of deerfield beach in florida. thousands of black tip and spinner sharks seen migrating closing the cloture of beaches putting a -- stop the happy music. we need shark music. since the beginning of march, they migrate from bocaraton. meeting in bangkok resulted in

protections for sharks that are hunted for use in chinese medicine and shark fin soup, but, yeah, so much to the trip to florida planned. i don't recommend getting in the water. dennis: the hotel pool. cheryl: exactly. is the dow the new energizer bunny? it keeps going and going and going. can they make a record close? dennis: tough sell at stocks at these levels, but there's a bill o'donald joining melissa and lori why there's a new bull trend for bonds, baby, bonds. cheryl: i want to see what he says about bonds and why they are worth it. ♪ monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions,

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